THE Sugar Company of Jamaica Holdings Limited (SCJH) is moving to increase the availability of former sugar land to investors during the 2023/24 fiscal year.

Details of the drive by SCJH are included in The Jamaica Public Bodies Estimates of Revenue for the year ending March 2024, tabled in the House of Representatives by Minister of Finance and the Public Service Dr Nigel Clarke on Tuesday.

According to the document, the SCJH is aiming to maximise the use of the former sugar lands available to investors for the productive activities to support economic growth, entrepreneurship and job creation.

“This will see the SCJH reviewing its existing lease portfolio, to determine the best use of lands and exploring re-leases where necessary to optimise land use.”

It was also reported that the board of the SCJH has approved 24 leases, covering 1,926.74 acres to be utilised for cash crops, animal rearing, orchard crops and commercial use of hemp/cannabis, during the 2022/23 fiscal year.

For the 2023/24 fiscal year the SCJH said it will pursue the issuance of 21 leases covering a further 10,000 acres.

In collaboration with other government stakeholders, the SCJH says that it will continue to promote and facilitate community regularisation in sugar-dependent communities.

It estimates that it distributed some 160 titles to residents in the Clifton, St Catherine, during 2022/23 and projects that the remaining 247 titles will be distributed during the new financial year.

In addition to monitoring various investors, SCJH said it will seek to accomplish its mission to provide efficient land management services that will foster sustainable, economic and social development in the sugar-dependent communities by engaging in a number of projects.

According to the SCJH, its strategic focus for 2023/24 and into the medium term will continue to be the transition of the former sugar lands to productive activities.

The SCJH noted that to support the implementation of the Greater Bernard Lodge Development Master Plan, which includes housing and light industries development, it retains responsibility for the promotion, facilitation and administration and implementation of the development and will continue to collaborate with the Development Bank of Jamaica to achieve this.

The Government-owned company said that significant headway has already been made in the implementation of the master plan with phase one being completed in 2021/22, and phase two substantially completed in 2022/23.

During the 2023/24, the SCJH said it will pursue completion of phases two and three of the implementation plan.

The company added that to ensure the effective management of lands under its control, it will pursue the implementation of systems to allow it to make data-driven decisions in relation to the management of its land holdings.

The SCJH has projected a net profit of $283.91 million for 2022/23, with this increasing to $314.30 million in next fiscal year.